The first building is a three-story structure containing 36,000sf, and completion is scheduled for summer 2006. Kessell estimatesthe all-in cost, "excluding site work, is about $100 per sf." WestChester-based the Norwood Co. is construction manager. Kessell saysthe asking rent rate is "$25 per sf, plus electric," and Bill Wolfof the Lehigh Valley office of CB Richard Ellis is the listingbroker.

The additional buildings, also three-story structures of similararchitecture, will be 64,000 sf and 30,000 sf, respectively."Tenant interest has been very high," Kessell says, attributing itto the properties' ease of access to Route 309 and Interstate 78and the center's high visibility. He expects at least one of thebuildings to be leased by medical-related tenants, "given thesite's location and proximity to the Lehigh Valley's majorhealthcare networks."

The Shoppes at Saucon Valley, a 600,000-sf shopping center iscurrently under construction by Columbus, OH-based StanberyDevelopment in Stabler Center. Olympus America will headquarter atthe center in spring 2006, and a new 175,000-sf operations centerfor Dunn & Bradstreet is expected to reach completion in thedevelopment late next year. Sierra also has plans to develop SauconCreek Resort, an executive conference center.

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